4) I was reading somewhere that government and Income Tax department putting huge data mining setup means govt will first go against large depositors who are routing money from various sources and will go for random sampling against small depositors like 1-2lakh.

Random sampling was used by Income-tax department in past also.

Benefits –
1) Obviously, this will flush out both black and white money which is out of banking system and just idle.

2) Even if this measure will not solve 100% black money problem but will push people to go for cashless and legal transactions as everyone will think that government can repeat this action in future also like after 4-5year.

3) Middle class & Lower class will continue their business as usual but the upper class which deals with black money will try to push the government to go soft and will use various means to undermine the government.

This is the testing time for government and political leadership.Fight between elite lobbies and their supporter in various systems Vs BJP top leadership will decide how much this step will be effective. The result of this fight will decide future of a nation.

4) In long term decision is good but will obviously harm elite class and help the middle class but a question is will middle and lower class show patience or will get influenced by the propaganda of elite lobbyist and their friends in various systems.

JOIN OUR NEWSLETTER

I agree to have my personal information transfered to MailChimp ( more information )

Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.

We hate spam. Your email address will not be sold or shared with anyone else.